SLP 4. Corporate Social Responsibility
Corporate social responsibility
Corporate social responsibility describes the mechanism used by corporations to run their business activities, as they direct their energies towards the establishment of a positive and preferred outcome for the society as a whole. It can also be regarded as the requirements by companies to make advance contributions that enhance society’s welfare.For the above to occur, corporations ethics must revolutionize to control the efforts towards building a desired society. For instance, a company can contribute to the construction of local roads or lighting the streets to promote safety and enhance transportation. Currently, the concept is viewed as giving back to the society while building the business. Surveys in the UK and USA, have confirmed that consumer are willing to associate with companies that show generosity by supporting programs that benefit the society (Ellen et al, 2006).
Corporations operate on local and government set ethics whose violation becomes a crime. Companies that violate those principles are socially irresponsible and in most cases they direct their effort towards wealth maximization. A socially responsible corporation conducts business by gearing their efforts towards making the societies and their environment a better living place. Companies are encouraged to do more than just what they are expected to do (Popa & Salanță, 2014). A manager should have the interest of the society…
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